HARLINGEN — The coronavirus pandemic can’t stop a boom in the city’s housing market.
Across town, some of the lowest interest rates in 60 years have driven housing starts to jump from 198 to a record 262 in the last year.
“In spite of the pandemic, there’s been a real boom in residential construction,” Mayor Chris Boswell said Thursday. “Definitely, low interest rates help that. There’s a lot of demand here.”
New, higher-paying jobs are helping to fuel the surge, he said.
“There is a lot of growth,” Boswell said. “There are more jobs. I definitely think there are many jobs being created by UTRGV and the health care industry.”
Meanwhile, Harlingen is on the map as a great place to buy a home and raise a family, City Manager Dan Serna said.
“You have an area with a low cost of living, excellent quality of life, fantastic school district and an excellent medical district,” he said.
Housing starts closing in on new record
From 2019 to 2020, housing starts jumped from 198 to 262, with their total construction value climbing from $24.9 million to $34.4 million, the city’s construction reports show.
During the pandemic, factors behind rising construction values include higher building material costs.
This year, the city’s housing starts are closing in on the new record, with 223 homes built from October through July 19, boasting a total construction value of $32.4 million, Assistant City Manager Gabriel Gonzalez said.
Five years ago, home buyers built 164 houses here, with a total construction value of $21 million, the city’s 2016 report shows.
Demand paves way for new subdivisions
Meanwhile, officials have approved four new subdivisions with a total of 120 lots since October 2019, Gonzalez said.
“There’s a demand for housing in Harlingen for sure and developers are taking advantage of that,” he said.
Within the last month, developers have submitted plans for seven subdivisions with a total of 105 lots, Gonzalez said.
“They’re coming in fast and furious for building permits,” he said. “There’s a lot of activity going on.”
At City Hall, Serna is hiring more staff to keep up with the growing requests for construction permits.
“We’re realizing new subdivisions coming into the city — they’re scattered throughout town,” he said. “Interest rates are at historic lows so people who have been putting off buying a home are taking advantage of that.”
